Exactly ten years ago, you invested some money with a group of friends buying some stock in a techStartup. If the stock is now worth $873, and the company experienced a growth at a rate of 8% per year,compounded monthly, how much did you deposit when you opened the account?

Let P be the amount deposited while opening the account. Now, rate of interest (growth) per month =…

Answered: Exactly ten years ago, you invested…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Exactly ten years ago, you invested some money with a group of friends buying some stock in a tech Startup. If the stock is now worth $873, and the company experienced a growth at a rate of 8% per year, compounded monthly, how much did you deposit when you opened the account?